Piper Sandler raised the firm’s price target on Mesoblast (MESO) to $15 from $11 and keeps an Overweight rating on the shares after the FDA approved Ryoncil. The firm noted that with ultra orphan disease pricing, it projects Ryoncil revenues of $12M in 2025 growing to $35M in 2026 and $150M by 2032. Piper told investors that Mesoblast is eligible to borrow up to $50M in convertible debt following the FDA’s approval of Ryoncil.
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